Netskope: Securing the Modern Enterprise Cloud

July 9, 2021

Will Griffith, Ben Bernstein, Murali Joshi and Zach Cherian 

Sanjay Beri, Netskope’s Founder and CEO, has had a vision since inception to build a generational cybersecurity platform from the ground up while always staying focused on the long-term horizon. We were proud to invest in the company in 2015 and have been thrilled to support the company in every financing since as they build out the leading global SASE (Secure Access Service Edge) platform for the modern enterprise cloud.

When we first met Sanjay and the Netskope team in 2015, we were immediately inspired and enamored by what they were building to transform cloud security. Their entrepreneurial journey has been guided by the needs and voice of the customer. The company has evolved the best-of-breed and feature-rich CASB (Cloud Access Security Broker) of its early years into an enterprise-grade, end-to-end cybersecurity cloud platform. Netskope’s story is one that truly humbles us and also highlights the best part of our roles—to partner with product-focused founders in supporting their growth and mission to build category-defining companies. We at ICONIQ Growth are thrilled to expand our partnership as the lead investor in Netskope’s latest $300M financing round, announced today.

As cloud workloads have accelerated over the last couple of years, so have the challenges that face enterprises focused on building and operating securely in this new environment. Companies continue to shift to a more complex cloud technology stack and distributed workforce, deepening the need for solutions that address intricate security controls, governance and access. Early on, Sanjay and his team foresaw the monumental effect cloud computing would have on digital transformation and had the vision and expertise to design a security platform that would support these cloud-centric business requirements everywhere in the world. We believe Netskope’s founding mission defined the broader SASE market. Through our research and conversations with industry experts and customers, we also believe Netskope continues to be driving this rapidly growing space.

For modern enterprises, the cloud is increasingly considered the essential scaffolding for any company’s success. While the cloud adds layers of security vulnerabilities, Netskope serves as a steel backbone to protect and secure enterprises through capabilities like Advanced Analytics, Cloud Access Security Broker (CASB), Secure Web Gateway (SWG), Private Access (Zero Trust Network Access), Public Cloud Security and more. Starting at every cloud access point—from the individual contributor to the CISO and CEO—Netskope has the ability to not only provide real-time awareness of cloud security health but deliver actionable measures that can prevent catastrophic security threats. Year after year, we have been continually impressed by Netskope’s ever-expanding product capabilities and the visibility it provides into the opacity of the cloud.

We share Netskope’s ethos of listening to the voice of the customer, so we asked global chief information security officers (CISOs), chief information officers (CIOs), network architects and security analysts the value of Netskope. We often heard about Netskope’s “cutting edge technology,” as well as its “innovative product roadmap” and “SASE leadership”. For these reasons and others, over 1,500 global enterprises choose to partner with Netskope as their preferred SASE platform. These customers collectively represent more than 30 of the Fortune 100 and some of the world’s largest airlines, commercial banks, healthcare providers, and telcos. We believe Netskope is the technology leader and category-defining platform in CASB, SWG, Private Access (Zero Trust Network Access) and the broader SASE market.

We at ICONIQ Growth have been fortunate to partner with several category-defining infrastructure and security software businesses. We are honored to extend our partnership to further Netskope’s awe-inspiring success alongside their other existing investors, Sequoia, Lightspeed Venture Partners, Accel, Base Partners, Sapphire Ventures and many others.

Congratulations Sanjay and to the entire Netskope team!